April showers dont dampen home
TORONTO, April 18, 2007 -- The GTA resale housing market got off to a strong
start in April, with mid-month sales coming in one per cent ahead of mid-April
2006, Toronto Real Estate Board President Dorothy Mason announced today.
The 4,175 transactions recorded in the first half of the month surpass the mid-April
total of 4,140 sales recorded in 2006. Meanwhile, year-to-date figures for 2007
are nearly two per cent ahead of last years pace.
We are very encouraged by the stability of the GTA market, Mrs. Mason
said. Activity is strong yet controlled, and great economic fundamentals
continue to keep things moving in the right direction.
The average price of a home in the GTA reached $372,169 in the first half of April,
up one per cent over the same timeframe in April 2006 when prices averaged $366,878.
The median price rose three per cent to $315,000. Active listings were down five
per cent from the same time in 2006, to 22,711.
Strong activity across all housing types in the Beach (E02) helped push overall
sales up 44 per cent compared to mid-April of 2006.
The condo boom in Mississaugas city centre (W15) was largely responsible
for an overall sales increase of 41 per cent in the area, compared to mid-April
of last year.
Torontos Forest Hill neighbourhood (C03) saw 54 per cent more overall transactions
than to the same point a year ago, fueled mostly by detached home sales.
In Bayview Village / Hillcrest Village (C15), overall transactions increased by
36 per cent compared to the same timeframe in 2006.
Consumers are showing a lot of confidence in this market, Mrs. Mason
said. Their investments are showing steady returns, yet the market is still
accessible to a variety of buyers.
Toronto REALTORS® are passionate about their work. They adhere to a strict
code of ethics and share a state-of-the-art Multiple Listing Service designed
exclusively for REALTORS®. Serving more than 25,000 Members in the Greater
Toronto Area, the Toronto Real Estate Board is Canada's largest real estate board.
Greater Toronto Area open house listings are now available on www.TorontoRealEstateBoard.com.
* Please note that TREB counts by business or sales days.
In a 30 day month, there will usually be about 20 sales days, depending on when
the weekends fall, holidays,
and so on.